Date Received: 2016-10-23
Issue: Loan servicing, payments, escrow account
Subissue:
Consumer Complaint: My mortgage was sold to Specialized Loan Servicing in late summer XXXX. I have had several problems with this company since they began servicing my loan. I received the first two monthly payment notices last XXXX and XXXX and made my payments early ; approximately three weeks prior to the XXXX of the month due dates. Both payments were posted just a few days prior to the due date, which I thought was strange as my prior experiences were that payments were posted 7-10 days after mailing. I again mailed my third monthly payment ( due XXXX XXXX, XXXX ) on approximately XXXX XXXX, XXXX to a post office box in XXXX GA ( XXXX XXXX XXXX, I believe ). Specialized Loan Servicing claimed they never received this payment. I called their customer service phone number approximately XXXX XXXX, XXXX and initially spoke with a service representative who was unhelpful and basically told me call back in a couple of days as the late payment deadline was approaching. I again called back around XXXX XXXX, XXXX and spoke to a different customer service representative who suggested that I sign up for their automatic monthly loan payment program ; which I did. However, in order to assure that my XXXX XXXX payment was not late I had to use a one time EFT payment for which I was charged a fee. I also was charged a stop payment fee by my bank regarding the check Specialized Loan Servicing said they never received. After this incident, I reviewed this CFPB complaint database and noticed numerous complaints regarding the servicing of mortgage loans by Specialized Loan Servicing. This company seems to have serious problems with whomever they are contracting with to service their loan remittance payments. A simple XXXX search shows the XXXX XXXX XXXX XXXX to which payments are remitted is a third party payment processing company. Since my loan has changed beginning with the XXXX XXXX, XXXX payment to an automatic monthly EFT payment there have been no issues with the recording of P & I and the escrow funds. Now though, mysteriously, my access to the Specialized Loan Servicing website recently has disappeared. I have utilized my personal email and a password to gain access to the site and monitor my loan since this company began servicing it last year. Recently, when I was unable to login, I thought maybe my password had expired. I requested a new password and they asked for my email address to confirm my identity. When I provided my email address, the response was they could not associate my email address with an open account. How can this be when I 've been using the same email and password to access their website since my loan was transferred to this company? I have been making mortgage payments to various financial institutions for 27+ years. I 've never made a late payment and have maintained a FICO credit score above XXXX for probably that entire time. I 've never had even one problem with the servicing of my mortgage loans over the years ; until my loan was sold to Specialized Loan Servicing.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: CA
Zip: 94070
Submitted Via: Web
Date Sent: 2016-10-23
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: No
Date Received: 2016-10-22
Issue: Loan modification,collection,foreclosure
Subissue:
Consumer Complaint: I have been working with the servicer of my second mortgage since XX/XX/2016. They have requested the same documents over and over. I have submitted everything that they asked for with no results. I am not trying to avoid paying the debt. I just want some relief as far as the interest rate ; 9.375
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: CA
Zip: 90302
Submitted Via: Web
Date Sent: 2016-10-22
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: No
Date Received: 2016-10-22
Issue: Loan servicing, payments, escrow account
Subissue:
Consumer Complaint: I secured a conventional 30 year fixed mortgage for my Mother in XXXX XXXX for {$90000.00} ( less than XXXX the appraised value ) on her home here on XXXX XXXX, MI to help pay for my brother 's XXXX treatment. The mortgage was transferred to XXXX within one month and remained with them until this past XXXX XXXX when it was tranferred again to and new servicing company Specialized Loan Servicing ( SLS ). This is when the problems started. The notice of transfer was received by me on or around XXXX XXXX, XXXX XXXX weeks after the last payment was made to XXXX on the first of XXXX XXXX for the original monthly amount of {$680.00}, which included escrow amount for property taxes and hazard insurance. On or around the same time ( XXXX XXXX ) I also received a payment statement from SLS for the next payment due XXXX XXXX, XXXX, however the statement showed an additional {$30.00} late fee for a payment that was n't due for another two weeks. I contacted SLS by phone, but he representative said he could not talk to me because I was not the original borrower. However, I had been authorized by XXXX seven months prior ( XXXX XXXX ), because my Mother passed XXXX XXXX, XXXX and as sole heir I was appointed Personal Representative of my Mother 's estate by XXXX County Probate Court o in XXXX XXXX. Thus I resubmitted my Mother 's Death Certificate and relevant court documents to the new mortgage servicing company SLS. This took place in mid XXXX XXXX, but I never received a response regarding the {$30.00} late fee. Then my payment went up to $ XXXX/month and XX/XX/XXXX/XX/XX/XXXX I was notified that my monthly payment ( on my 30 year fixed rate mortgage ) was being increased by a $ XXXX month to accommodate and $ XXXX deficiency in my escrow account. When I called to inquiry I was not given any explanation because the customer service agent was not privy to any information and did not connect me with someone qualified to answer my inquiry. I double checked the Premium for the Hazard Insurance which had not increased and then I checked the local township clerk 's office for the current property tax amounts, which had actually gone down by over {$200.00} annually starting XX/XX/XXXX. I have not had a good feeling about this company since they acquired the mortgage particularly when I searched you site and found a lengthy list of complaints against SLS by individuals whose mortgages were being serviced by them. Because I have not seen any documented disciplinary actions by any regulatory agency I am also submitting this filling and supporting documentation ( including time stamped emails and faxed comumincations with SLS regarding these concerns ) with both State Attorney General 's Offices in Michigan and Georgia, the Federal Attorney General 's Office, and the FTC ) I also have the intention of submitting this to printed media ( i.e. XXXX ) and digital media ( i.e. XXXX, XXXX, XXXX, XXXX, and other pertinant blogs ) I
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: MI
Zip: 497XX
Submitted Via: Web
Date Sent: 2016-10-22
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: No
Date Received: 2016-10-19
Issue: Loan modification,collection,foreclosure
Subissue:
Consumer Complaint: On XXXX XXXX, XXXX, I submitted a Request for Mortgage Assistance ( RMA ) application to Specialized Loan Servicing. Throughout the application process, SLS has falsely alleged that I did not submit " missing documentation '' and have repeatedly requested duplicate information. SLS obtained all the necessary information to process my application in the middle of XXXX ; however, I received a letter dated XXXX XXXX, XXXX that my application is still under review. SLS is clearly delaying the process in an attempt to foreclose on my home.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: FL
Zip: 34986
Submitted Via: Web
Date Sent: 2016-10-19
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: No
Date Received: 2016-10-19
Issue: Loan modification,collection,foreclosure
Subissue:
Consumer Complaint: 10 years ago we bought a house from XXXX XXXX and our loan was processed by them.When we took this loan it was our understanding that it was a 5 year interest adjustable mortgage with the option to renew it at the same term for another 5 years. After the initial 10 year adjustable period our loan will be fully amortized for the remaining 20 years. We took this loan in XXXX, 2006, never miss a payment, and we were ready to see how much will our payment is if it were to be fully amortized for the remaining term but I was shocked when I received the statement from XXXX XXXX who got our loan from XXXX XXXX, that we still have the adjustable rate, and the only difference is they added the principal and escrow, and our rate is adjusting every six months based on the XXXX index rate. To me, this is unfair. It was not fully explained to us when we got this loan..now that we are retired we do n't know what to do. We ca n't qualify to refinance because of our bankruptcy and with our income now, we might not qualify. If only XXXX XXXX loan people explained it to us clearly 10 years we would n't be in this predicament now. We might lose the residence that we lived in the past ten years. I believe that this was a predatory loan designed to prey on elderly people like. I know we signed the papers but it such a thick volume of papers we had to go through, so we relied and trusted the loan officer, that she had our best interest at heart and that she gave us the best loan at that time. My husband is XXXX years old and I am XXXX years old, I do n't think there are still companies out there who would hire us just for us to save our home. What I really want is for our original lender to change the term of our loan and have a 30 year amortized loan so we could afford the payment and keep our home. Our loan is transferred to a new loan servicing company, Specialized Loan Servicing LLC. Thank you for your support.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: CA
Zip: 95757
Submitted Via: Web
Date Sent: 2016-10-19
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: No
Date Received: 2016-10-18
Issue: Loan servicing, payments, escrow account
Subissue:
Consumer Complaint: I have XXXX mortgages with Specialized Lender and I never received my XX/XX/XXXX mortgage statement which is what triggers me to pay them. I opened my XX/XX/XXXX statement on XX/XX/XXXX and realized I never psi for XX/XX/XXXX. I immediately paid for both houses and the late fee for XX/XX/XXXX and they received payment XX/XX/XXXX. I thought I was all set until today when I was declined for credit for a new phone. When I called I found out I went from a near perfect credit score to default. I immediately called the mortgage company and they told me I could fax a letter but usually they never reverse the notification they send to the credit reporting bureau. SLS also do n't thing they needed to contact me before they notified the credit reporting bureau. I have never been late before and had a great credit rating and they ruined it and do n't seem to care to help me clear it up. I did send them a faxed email since that is all I could get to deal with my issue and they told me they would let me know what they will do in 30 days. So they ruined my credit and I ca n't do anything tip I hear from them. XXXX.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: MA
Zip: 02072
Submitted Via: Web
Date Sent: 2016-10-18
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: No
Date Received: 2016-10-17
Issue: Loan modification,collection,foreclosure
Subissue:
Consumer Complaint: My home loan went into default XX/XX/2014 with XXXX XXXX, due to a temporary hardship. The hardship was resolved and an application for loan modification was submitted ( XX/XX/2014 ). Since the original submission, and to date, XXXX and its servicers have rotated at least XXXX " Preservation Specialists '' on my applications, lost or arbitrarily rejected multiple loan modification requests, applied arbitrary qualification criteria, transferred servicing to another company, and has repeatedly misrepresented the status of the application and required substantiating documents. After being told by XXXX that the loan was not in active foreclosure and they were working with me, on the same day they filed foreclosure. Defending myself in court has been costly and distractive, as well as a cost in emotional stress and lost wages. Meanwhile, the finance charges grow and related administrative fees increase. My consumer credit counseling representative suggested a complaint is in order. I have also filed civil counter claims.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: FL
Zip: 339XX
Submitted Via: Web
Date Sent: 2016-10-17
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: No
Date Received: 2016-10-17
Issue: Loan modification,collection,foreclosure
Subissue:
Consumer Complaint: I applied for a loan modification in 2014 with SLS ( Specialized Loan Servicing LLC ) after mortgage loan was transferred from XXXX Mortgage to XXXX XXXX XXXX. I diligently providing all documents requested by them ( SLS ), at least two dozen times by fax, USPS and XXXX, in an effort to have the modification approved. Each time documentation packages were submitted, a call by a SLS representative would state 1 or 2 items ( documents were missing ) I was advised early on in the process that I qualified for the loan modification and the eligibility to qualify for foreclosure prevention was a shoe in, to include an option for the Home Affordable Modification Programs ( HAMP ). The result from SLS home modification and mortgage assistance failed resulting in foreclosure. In the multiple repeated phone calls to SLS they have not had the same individual answer the phone and I keep getting different stories from whatever representative I speak with. This company has been impossible to deal with and is going to cause me to lose the property that I was seeking the modification for due to their inordinate delay and complete inability to respond to this request in a reasonable manner. I have recently, attempted to contact the company requesting an offical letter stating my foreclosure was redeemed and my property was sold. This required by my present employer.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: CA
Zip: 93536
Submitted Via: Web
Date Sent: 2016-10-17
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: No
Date Received: 2016-10-14
Issue: Loan servicing, payments, escrow account
Subissue:
Consumer Complaint: We had a modification plan and an agreement with the prior lender just before this loan was assigned to another lender, which engaged Specialized Loan Services to service the mortgage. SLS ignored the agreed modification amount and demanded a higher amount. We paid that amount rather than go into default. Now, SLS has increased the mortage without explanation by more than {$460.00} a month. In a statement dated XXXX/XXXX/2016, SLS without explanation increased monthly mortgage payments to {$1700.00} ( XXXX ) from {$1200.00} ( XXXX ), an increase of {$460.00} ( XXXX ). Before SLS began servicing this loan I had executed a modification plan with XXXX, the original owners of the above mortgage loan, in which I was to pay {$1100.00} ( XXXX ) monthly. After it began servicing the loan, SLS ignored the terms of the modification agreement and increased my monthly payments to {$1200.00} ( XXXX ). After that increase, I spoke with SLS representatives for weeks and remained confused about how payments to SLS were credited to my account. To date, I have gotten conflicting and confusing answers from SLS representatives. My total annual Real Estate County Tax payments is {$6100.00} ( XXXX ) ; total annual homeowners insurance is {$2300.00} ( XXXX ), for a total of {$8500.00} ( XXXX ). The escrow increase of {$460.00} a month amounts to an annual amount of {$5500.00} ( XXXX ). My current escrow payment is {$550.00} ( XXXX ) a month or {$6600.00} ( XXXX ) a year. Added together, the escrow increase by SLS amounts to {$12000.00} ( XXXX ) to cover expenses of {$8500.00}.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: OH
Zip: 44236
Submitted Via: Web
Date Sent: 2016-10-14
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: No
Date Received: 2016-10-11
Issue: Loan modification,collection,foreclosure
Subissue:
Consumer Complaint: On XXXX/XXXX/2016 I requested XXXX and its XXXX.to review my file and consider a resolution through a complaint I file on above mentioned date. I am now employed and have established myself again and I am able to retain my home. My complaint ID is XXXX. The reason for my default has to do with the loss of my job. XXXX XXXX was consistently informed of the progress I have made. We are in foreclosure and looking for a sale day. I am want to retain my home for us and our XXXX children. Please I have now send another package to the new servicing co by th e name of XXXX. I have also done a forensic review of my file and found discrepancy 's. I am attaching it for your review. I need to keep my home I would appreciate a quick response.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: NY
Zip: 10956
Submitted Via: Web
Date Sent: 2016-10-11
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: No